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Last vacant Cupples Station building purchased by Koman Group

Although most of the original Cupples Station warehouses in Downtown St. Louis have either been rehabbed or demolished by now, there are still two rather prominent buildings that remain untouched on the 900 block of Spruce Street. If you have ever been and Busch Stadium and noticed the hulking board-ups to the west of the ballpark, you know which buildings. Both were originally going to be converted to lofts, but owners Ballpark Lofts II LLC and Chouteau Properties LLC pulled back from their original plans and have sat on the properties since.

Considering the proximity to Busch Stadium, many considered this odd since St. Louis has such a baseball obsession. While the original foreclosure slated for November 2010 was postponed, Bank of America finally foreclosed on the Chouteau Properties owned vacant warehouse at 900 Spruce. Last week, the property was purchased by a company tied to the Koman Group for $3 million. Details on the company’s plan for the property are not currently available, but barring a complete tear-down, Koman couldn’t do any worse than the status quo.

via STLtoday.com

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Matt Kastner

Matt Kastner is an Investment Real Estate Consultant at St. Louis Real Estate Society in St. Louis, Missouri. He is also develops properties on the side through Threshold Properties. When he isn't representing investors in the purchase or sale of multifamily properties, rehabs, foreclosures and other income producing properties, he is often taking on rehab projects himself. He lives in South St. Louis and has been in the real estate business since 2004.

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